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Analyst calls for Maple Leafs to trade Morgan Rielly.

There has been significant talk involving Toronto Maple Leafs defenseman Morgan Rielly and a potential trade. Speculation ramped up on Monday as Jonas Siegel of The Athletic described how Rielly’s agent and the Leafs’ management are working towards a deal.

Given the considerable hurdles potentially holding up a Rielly trade, the number of suitors could be limited. But one suitor that remains active in the conversation is the San Jose Sharks.

The Sharks have roughly two NHL-caliber defensemen signed for next season, and are reportedly looking to add more veteran presence. That’s why Rielly could be a good fit for the up-and-coming Sharks.

Here’s a look at what a potential trade could look like between the Maple Leafs and Sharks involving Morgan Rielly.

Sharks get:

Morgan Rielly, D

33.3% retention

Maple Leafs get:

William Eklund, F

Mattias Havelid, D

2028 second-round pick

It’s worth pointing out that the Leafs would have to retain about $2.5 million of Rielly’s cap hit to get it down to a more palatable level for the Sharks. As a result, the Sharks would be willing to pay up far more for Rielly.

The Maple Leafs would get a promising young forward in William Eklund. The 23-year-old scored 15 goals and 53 points in 78 games this past season. He will be starting the first year of a three-year extension that carries a $5.6 million cap hit. The former seventh-overall pick from the 2021 NHL Draft could slide in as a potential top-line option for Auston Matthews and presumptive top-overall pick Gavin McKenna.

The other piece, Mattias Havelid, is a second-round pick with potential to become a solid top-four NHL defenseman. The 22-year-old put up 15 points in 44 games in the AHL this season. He’s a bit of an undersized right-shot defenseman who could turn into a solid puck-mover.

Sharks Seemingly overpay in this trade idea with Maple Leafs

On the whole, surrendering Eklund, who’s one of the Sharks’ most promising forwards, and a decent defensive prospect in Havelid, along with a second-round pick, may seem like an overpay for the Sharks.

But it’s worth considering that the free-agent market does not have many alternatives this summer. Unless the Sharks are willing to pay upwards of $9 million per season for a guy like Darren Raddysh, dealing from a position of strength to fill a need makes the most sense for San Jose.

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Toronto Wouldn’t Necessarily Save Cap Space, but Add Top-Tier Talent

Eklund’s cap hit would essentially negate the savings from dumping Rielly’s contract. But where else could the Maple Leafs find a 23-year-old forward with 20 to 30-goal potential? His $5.6 million cap hit could look like a pittance if he can truly become a top-six forward.

If the Leafs add Eklund, McKenna, and have Easton Cowan, Nick Robertson, and an AHL graduate like Bo Groulx, the Maple Leafs could have a decent core of wingers, potentially putting up 20 goals apiece next season.

It’s also worth noting that a healthy return in a trade like this depends on the Leafs retaining salary. If Toronto expected San Jose to take on Rielly’s full cap hit, the return would be considerably lower. It might not get beyond a couple of late-round picks.